Sanders Morris Harris LLC Has $1,243,000 Stake in Waste Management, Inc. (NYSE:WM)
Sanders Morris Harris LLC maintained its position in shares of Waste Management, Inc. (NYSE:WM) during the second quarter, according to its most recent 13F filing with the SEC. The fund owned 16,952 shares of the business services provider’s stock at the end of the second quarter. Sanders Morris Harris LLC’s holdings in Waste Management were worth $1,243,000 as of its most recent filing with the SEC.
Other institutional investors have also recently made changes to their positions in the company. Vanguard Group Inc. raised its position in shares of Waste Management by 5.8% in the first quarter. Vanguard Group Inc. now owns 32,753,532 shares of the business services provider’s stock valued at $2,388,388,000 after buying an additional 1,790,546 shares in the last quarter. BlackRock Inc. increased its stake in shares of Waste Management by 2,611.5% in the first quarter. BlackRock Inc. now owns 30,162,320 shares of the business services provider’s stock worth $2,199,436,000 after buying an additional 29,049,915 shares during the last quarter. State Street Corp increased its stake in shares of Waste Management by 0.6% in the first quarter. State Street Corp now owns 21,287,562 shares of the business services provider’s stock worth $1,552,295,000 after buying an additional 134,152 shares during the last quarter. Wells Fargo & Company MN increased its stake in shares of Waste Management by 5.2% in the first quarter. Wells Fargo & Company MN now owns 7,327,831 shares of the business services provider’s stock worth $534,346,000 after buying an additional 362,315 shares during the last quarter. Finally, AQR Capital Management LLC increased its stake in shares of Waste Management by 10.2% in the first quarter. AQR Capital Management LLC now owns 5,614,368 shares of the business services provider’s stock worth $409,399,000 after buying an additional 518,270 shares during the last quarter. Hedge funds and other institutional investors own 75.59% of the company’s stock.
Shares of Waste Management, Inc. (NYSE WM) traded up 0.03% during midday trading on Wednesday, reaching $75.36. The company’s stock had a trading volume of 525,549 shares. The stock’s 50-day moving average price is $74.30 and its 200-day moving average price is $72.66. The company has a market cap of $33.16 billion, a P/E ratio of 25.81 and a beta of 0.71. Waste Management, Inc. has a 12-month low of $61.08 and a 12-month high of $76.00.
Waste Management (NYSE:WM) last issued its quarterly earnings results on Wednesday, July 26th. The business services provider reported $0.81 earnings per share for the quarter, hitting the Thomson Reuters’ consensus estimate of $0.81. Waste Management had a return on equity of 25.07% and a net margin of 9.18%. The company had revenue of $3.68 billion for the quarter, compared to the consensus estimate of $3.62 billion. During the same quarter in the prior year, the business earned $0.74 EPS. Waste Management’s revenue was up 7.4% on a year-over-year basis. On average, analysts expect that Waste Management, Inc. will post $3.19 EPS for the current fiscal year.
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A number of brokerages recently weighed in on WM. Zacks Investment Research downgraded Waste Management from a “buy” rating to a “hold” rating in a research report on Friday, July 28th. Stifel Nicolaus raised their price objective on Waste Management from $80.00 to $85.00 and gave the company a “buy” rating in a research report on Tuesday, July 18th. Oppenheimer Holdings, Inc. raised their price objective on Waste Management from $77.00 to $82.00 and gave the company an “outperform” rating in a research report on Wednesday, July 5th. BMO Capital Markets began coverage on Waste Management in a research report on Thursday, June 29th. They set an “outperform” rating and a $81.00 price objective on the stock. Finally, Credit Suisse Group raised their price objective on Waste Management from $80.00 to $85.00 and gave the company an “outperform” rating in a research report on Wednesday, June 28th. One analyst has rated the stock with a sell rating, five have given a hold rating and seven have assigned a buy rating to the stock. The company presently has a consensus rating of “Hold” and an average target price of $75.24.
In other news, Director John C. Pope sold 453 shares of the stock in a transaction dated Monday, July 17th. The stock was sold at an average price of $74.38, for a total value of $33,694.14. Following the transaction, the director now owns 51,470 shares in the company, valued at approximately $3,828,338.60. The transaction was disclosed in a document filed with the SEC, which is available at this hyperlink. Also, CEO James C. Fish, Jr. sold 3,500 shares of the stock in a transaction dated Tuesday, May 30th. The shares were sold at an average price of $72.19, for a total value of $252,665.00. Following the completion of the transaction, the chief executive officer now owns 151,162 shares in the company, valued at approximately $10,912,384.78. The disclosure for this sale can be found here. In the last 90 days, insiders have sold 7,940 shares of company stock worth $575,603. 0.19% of the stock is owned by company insiders.
Waste Management Company Profile
Waste Management, Inc (WM) is a holding company. The Company, through its subsidiaries, is a provider of waste management environmental services. The Company’s segments include Solid Waste and Other. The Company’s Solid Waste segment includes its solid waste business. The Other segment includes its Strategic Business Solutions (WMSBS) organization; its landfill gas-to-energy operations and third-party subcontract and administration services managed by its Energy and Environmental Services and WM Renewable Energy organizations; its recycling brokerage services, and its service offerings and solutions, such as portable self-storage and long distance moving services, fluorescent lamp recycling and interests it holds in oil and gas producing properties.
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